Gene Editing Market Size

Gene Editing Market Growth Projections and Opportunities

The expansion of the gene editing market is primarily driven by increased funding for genetic research, a surge in genetic disorders, and a multitude of strategic initiatives. However, challenges such as off-target effects associated with CRISPR technology and the high cost of equipment are anticipated to impede market growth. Despite these hindrances, the market is poised for lucrative opportunities with the broadening application areas of genomics.
In terms of technology, the global gene editing market is segmented into CRISPR, TALEN, ZFN, antisense, and others. Among these, Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) stands out as the largest and fastest-growing segment. CRISPR's widespread applications, both in vivo for fixing target genes and ex vivo for rewiring and redirecting cells in genetic diseases and immuno-oncology autoimmune diseases, contribute significantly to its dominance. Key players in this segment include AbbVie, Inc. (US), Novartis AG (Switzerland), Bristol Myers Squibb Company (US), Sanofi (France), Vertex Pharmaceuticals Incorporated (US), Regeneron Pharmaceuticals, Inc. (US), and Biogen, Inc. (US). These companies are actively engaged in the development of CRISPR-based therapeutic products for various genetic diseases.

Regarding applications, the global gene editing market is categorized into genetic engineering, gene therapy, cell line engineering, and others. Genetic engineering finds applications across diverse fields, from basic research to biomedical research and biotechnology. Notably, both China and the US have utilized genetic engineering to develop CAR-T cell-based therapeutic products for cancer, addressing the increasing incidence of this disease. According to GLOBOCAN 2020, lung cancer (17.9%) accounted for the largest share, followed by colorectal (12.2%), stomach (10.5%), breast (9.1%), liver (9%), and other cancers (41.4%) in China.

In terms of end-users, the gene editing market is segmented into biotechnology and pharmaceutical companies, contract research organizations (CROs), and academic & government research institutes. The biotechnology and pharmaceutical companies segment emerged as the largest market share holder in 2022 and is expected to be the fastest-growing segment during the forecast period. This growth is attributed to the frequent increase in funding for gene editing, particularly for the development of therapeutic products. Key companies securing substantial funding for gene editing platforms include Beam Therapeutics (US), Graphite Bio (US), Caribou Biosciences (US), and Arbor Biotechnologies (US). For instance, eGenesis (US) raised USD 125 million in series C funding in March 2021 for a gene editing platform aimed at developing human-compatible organs, cells, and tissues and scaling up good manufacturing practices (GMP).

In conclusion, while challenges exist, the gene editing market is thriving due to the relentless pursuit of advancements in genetic research and the continuous efforts of industry players to harness the potential of gene editing technologies across diverse applications. As the field evolves, propelled by strategic collaborations and increasing funding, the market is well-positioned for sustained growth.